If the Fs were all early on and you had had nothing but an upward trend since then, your application would likely receive consideration. DO schools recognize that sometimes when kids start college, they aren't as mature as they might later be, or that they might go through some difficult times. Grade replacement allows you to show that you have matured or overcome your previous behavior or hardships.
If, on the other hand, you had an F or two a semester throughout your college career and then you got the grades replaced, you would have more of an uphill battle to climb, as this shows you had not just a bad semester or two, but an established history of failure that stretched on for several years. You can't just fail a class or two in med school and continue on, so you're too much of a risk to admit, as your chance of failing out of med school would be quite high.